Inspeer

A Peer-to-peer lending service that can operate with both cryptocurrency and fiat. The company has a working alpha already and they have reduced loan approval time to 1,5 minutes.

How it works:

What Inspeer does is it takes the intermediaries out of the lending process. Their P2P lending platform will allow direct P2P lending between individuals and P2B lending to small and medium businesses.

The system replaces the middlemen, financial institutions. This results in lower fees for customers, since the company saves a ton of money on rent and wages.

These savings are not at the expense of safety either. The company now has a fully working anti-fraud system (OLAF) that operates with 20,000 indicators to filter out suspicious loan applications.

A system based on machine learning, InsCore, will provide thorough analysis of reliability of borrowers. The team also plans to introduce an autoinvest tool.

Thus, it allows the borrowers to get their money in any currency they want, and the lenders to receive a stable return on their investment for a low fee.

Innovation:

P2P lending systems are not a novelty. Indeed, cryptocurrency P2P lending systems are not unheard of either.

What this project brings into the game is advanced mechanisms that are able to assess the reliability of borrowers and filter out fraudsters.

Innovation score: Medium

Token value:

Inspeer presents their token as a share, basically. INSP token holders will receive 20% of Inspeer’s net profit biannually. Only a bit over 2,5 mio INSP are sold as of today, and the unsold tokens will be burnt when the sale is over. Since the distributable income will not be shared among too many tokens, investing in INSP might mean a stable return on investment in a year.

Token value score: High

White paper:

Inspeer’s white paper deserves a praise. It dedicates only one out of 34 pages to the ICO sale. The others present a detailed overview of the market, talk about the technology involved in the project, legal side of the business and further plans.

White paper score: High

Roadmap:

The project’s roadman is a history of achievements. They have been in the loan business since 2016 and now are successfully operating lightfin.ru, a peer-to-peer lending platform in Russia. The platform turns a profit and served a testing ground for the algorithms the team wants to implement in Inspeer.

Their milestone for the already raised soft-cap is to get the P2P lending system ready (web version and apps) in May 2018 in Russia and Latvia. The milestone for $6,000,000 in raised funds is to open in Spain and start issuing plastic cards for current borrowers in January 2019.

It is unclear, though, won’t the last date be postponed if the $6 mio milestone is not reached.

Roadmap score: High

Business model:

The business model is fairly simple. The platform takes an average of 2% transaction fee for checking the borrowers’ reliability. They already made it with the Russian loan site and the odds are they will make it with this P2P platform.

The lenders can invest their funds into a variety of small loans and lower their risks in case the borrower fails to pay it back.

Business model score: High

Team:

Inspeer’s site shows only executive team and advisory board, so making conclusions about their development team’s capabilities is impossible. The members of the executive team are not well known, but since they are the same people, who were involved in running the successful loan platform, they are sure qualified to do their job.

Among advisors Inspeer lists the co-founder of Cryptopay, a UK based bitcoin wallet & payment company, and several people from an Estonian company among others. This is handy as Inspeer considers Estonia as one of the first candidates for expansion of their business.

However, because one member of the team lacks LinkedIn profile and some advisors’ roles are not clarified, Inspeer cannot receive the highest mark for the team.

Team score: Medium

Competitors:

Inspeer shows an in-depth market analysis and states that they are at the forefront of fintech as they are among the first companies to offer P2P cryptocurrency lending.

In fact, there are at least half a dozen startups right now that offer the same. However, considering the fact that it’s a growing market and Inspeer has a solid team with one successful project already in their portfolio, they will be tough to compete with.

Competitors score: Medium

Overall thoughts:

Inspeer has already raised the soft cap, so it is definitely happening. It has all chances to conquer Russian lending market and expand into Europe. Its tokens will return a profit. A great investment.